Hormel Foods Corporation (NYSE:HRL – Get Free Report)’s stock price reached a new 52-week low on Wednesday. The company traded as low as $18.96 and last traded at $19.2170, with a volume of 4,380,659 shares traded. The stock had previously closed at $19.30.
Analyst Ratings Changes Several research analysts recently weighed in on HRL shares. Bank of America increased their target price on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. BNP Paribas Exane reissued a “neutral” rating and set a $23.00 price target (down from $26.00) on shares of Hormel Foods in a research report on Wednesday, October 7th. Barclays restated an “overweight” rating and set a $28.00 price target (down from $30.00) on shares of Hormel Foods in a research note on Wednesday. Weiss Ratings downgraded Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 28th. Finally, JPMorgan Chase & Co. raised their price objective on Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.43.
View Our Latest Analysis on HRL
Hormel Foods Stock Up 1.8% The firm’s 50-day moving average price is $21.55 and its 200-day moving average price is $22.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 0.92. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 2.33 and a beta of 0.30. Hormel Foods (NYSE:HRL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 EPS. Sell-side analysts forecast that Hormel Foods Corporation will post 1.48 earnings per share for the current fiscal year.
Hormel Foods Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Tuesday, October 13th will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, October 13th. Hormel Foods’s payout ratio is currently 185.71%.
Insider Activity In other news, Chairman William A. Newlands acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were purchased at an average cost of $20.10 per share, for a total transaction of $201,000.00. Following the transaction, the chairman directly owned 76,375 shares in the company, valued at $1,535,137.50. This trade represents a 15.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.58% of the company’s stock.
Institutional Inflows and Outflows Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Hormel Foods in the second quarter worth approximately $489,092,000. Dimensional Fund Advisors LP boosted its stake in Hormel Foods by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,849,174 shares of the company’s stock valued at $155,152,000 after purchasing an additional 134,983 shares in the last quarter. Vest Financial LLC increased its position in shares of Hormel Foods by 7.8% during the 2nd quarter. Vest Financial LLC now owns 2,285,103 shares of the company’s stock valued at $56,716,000 after purchasing an additional 165,403 shares during the period. Bank of America Corp DE raised its stake in shares of Hormel Foods by 3.4% in the 1st quarter. Bank of America Corp DE now owns 2,405,895 shares of the company’s stock worth $54,494,000 after buying an additional 79,509 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of Hormel Foods in the first quarter valued at $44,733,000. 40.99% of the stock is currently owned by institutional investors.
About Hormel Foods (Get Free Report)
Hormel Foods Corporation is a global food company headquartered in Austin, Minnesota. Founded in 1891 by George A. Hormel, the company began as a meat processor and has expanded into a broad portfolio of branded food products sold through retail, foodservice and international channels.
Its products include refrigerated and shelf-stable meat, deli meats, bacon, pepperoni, sausages, canned foods, nut products and other prepared foods. Key brands include Hormel, SPAM, Jennie-O, Applegate, Columbus and Planters.
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Společnost Hormel Foods ve 3. čtvrtletí 2026 zvýšila upravenou provozní marži o 60 bazických bodů na 9 %, přestože objemy prodeje v maloobchodě klesaly.
Key Takeaways HRL began benefiting from lower pork commodity prices in the third quarter, with more gains expected ahead.HRL faced elevated beef, freight, logistics and fuel costs, plus higher short-term turkey supply-chain costs.HRL is using pricing, mix, efficiency gains and SG&A actions to improve profitability amid cost pressures. Hormel Foods Corp. (HRL - Free Report) continues to improve profitability despite softer Retail volumes pressuring sales. In the third quarter of 2026, the company expanded its adjusted operating margin by 60 basis points to 9%, contributing to a 30-basis-point improvement in the first nine months. Adjusted earnings per share increased 6% year over year to 37 cents.
The margin improvement came despite Retail volume declines, driven by business exits, lower whole-bird and private-label snack nut volumes, contract manufacturing and pricing-related elasticity. Consumer takeaway across branded Retail weakened, while total company dollar consumption declined 1% during the quarter compared with approximately 1% growth earlier in the year.
However, Hormel Foods continued to benefit from operational measures supporting profitability across its business. The Foodservice segment delivered another quarter of strong performance, with profit growth outpacing sales growth and driving further margin expansion. Management attributed this performance to disciplined product mix management and a continued focus on profitability. Foodservice remains an important contributor to the company's overall performance.
In addition, the company also began recognizing benefits from lower pork prices, with further benefits expected in future quarters due to cost-recognition timing. Adjusted SG&A expenses, as a percentage of net sales, improved year over year due to lower employee-related expenses and the timing of marketing and advertising investments. The company remains focused on cost discipline and prioritizing high-return SG&A investments.
Overall, continued strength in Foodservice, benefits from lower pork costs and disciplined expense management could help Hormel Foods sustain margin improvement while it works to stabilize Retail volumes and support overall profitability.
The Zacks Rundown for HRLThis Zacks Rank #4 (Sell) company’s shares have lost 21.1% in the past three months compared with the industry’s 13.9% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, HRL trades at a forward price-to-earnings ratio of 12.58, lower than the industry’s average of 13.46.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for HRL’s current and next fiscal year earnings implies a year-over-year increase of 8% and 3.6%, respectively.
Image Source: Zacks Investment Research
Stocks to ConsiderSome better-ranked stocks have been discussed below:
The Chef’s Warehouse, Inc. (CHEF - Free Report) distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. CHEF currently carries a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CHEF’s current fiscal-year sales and earnings indicates growth of 10.8% and 33.7%, respectively, from the year-ago reported figures. CHEF delivered a trailing four-quarter earnings surprise of 30.4%, on average.
Mama’s Creations, Inc. (MAMA - Free Report) , together with its subsidiaries, manufactures and markets fresh deli-prepared foods in the United States. MAMA currently carries a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for MAMA's current fiscal-year sales & earnings implies growth of 30.3% and 66.7%, respectively, from the year-ago actuals. MAMA delivered a trailing four-quarter negative earnings surprise of 121.7%, on average.
Medifast, Inc. (MED - Free Report) operates as a health and wellness company that provides habit-based and coach-guided lifestyle solutions to address obesity and support a healthy life in the United States. MED currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for MED's current fiscal-year sales and earnings implies a decline of 10.8% and 33.7%, respectively, from the year-ago actuals. MED delivered a trailing four-quarter negative earnings surprise of 462.2%, on average.
Hormel Foods ve třetím fiskálním čtvrtletí 2026 těží z nižších cen vepřového a výraznější přínos očekává v dalších čtvrtletích. Vyšší náklady na hovězí maso, dopravu a paliva kompenzuje cenami a úsporami.
Key Takeaways HRL began benefiting from lower pork commodity prices in the third quarter, with more gains expected ahead.HRL faced elevated beef, freight, logistics and fuel costs, plus higher short-term turkey supply-chain costs.HRL is using pricing, mix, efficiency gains and SG&A actions to improve profitability amid cost pressures. Hormel Foods Corporation (HRL - Free Report) continues to navigate input cost pressures through pricing actions, supply chain improvements and favorable developments in select raw material markets. While commodity dynamics remain mixed, lower pork commodity prices began to benefit in the third quarter of fiscal 2026, though the timing of cost recognition delayed the full benefit, with a greater portion of the benefit expected in future quarters.
However, beef costs remained higher than last year, while freight, logistics and fuel expenses continued to weigh on performance. Grain and beef costs are expected to stay elevated in some areas, and the turkey business also faced short-term pressure from higher temperatures and weaker feed efficiency. Fuel costs eased for a time but later moved higher again, leaving the company’s overall logistics outlook largely unchanged.
Hormel Foods continues to build long-term capabilities across its supply chain, including through Hormel production systems that are driving more consistent and improved performance across its manufacturing network. The company is also enhancing its data and planning tools to improve collaboration and support better decision-making across the enterprise. Management remains positive about the progress being made in these areas while navigating short-term headwinds.
Additionally, Hormel Foods is using multiple levers to improve bottom-line performance, including pricing, mix, efficiency gains and SG&A actions. The company successfully executed two waves of pricing actions, while the team continues to focus on mix. The company has also generated further efficiency gains and taken significant SG&A actions.
Looking ahead, Hormel Foods appears well positioned to partially offset persistent input cost pressures through a combination of pricing, mix improvement, efficiency gains and tighter cost discipline. Lower pork costs should provide additional support in coming quarters, while ongoing supply chain and SG&A initiatives could help cushion elevated beef, freight and other operating expenses. The effectiveness of these actions will remain important to watch as the company works to protect profitability in a still-challenging cost environment.
The Zacks Rundown for HRLThe company’s shares have lost 19% in the past three months compared with the industry’s 14.4% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, HRL trades at a forward price-to-earnings ratio of 12.93, in line with the industry’s average. HRL currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for HRL’s current and next fiscal year earnings implies a year-over-year increase of 8.8% and 3.6%, respectively.
Image Source: Zacks Investment Research
Stocks to ConsiderThe Zacks Consensus Estimate for CHEF’s current fiscal-year sales and earnings indicates growth of 10.8% and 33.7%, respectively, from the year-ago reported figures. CHEF delivered a trailing four-quarter earnings surprise of 30.4%, on average.
Medifast, Inc. (MED - Free Report) operates as a health and wellness company that provides habit-based and coach-guided lifestyle solutions to address obesity and support a healthy life in the United States. MED currently carries a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for MED's current fiscal-year sales and earnings implies a decline of 27.3% and 26.8%, respectively, from the year-ago actuals. MED delivered a trailing four-quarter negative earnings surprise of 462.2%, on average.
Utz Brands, Inc. (UTZ - Free Report) , together with its subsidiaries, markets, sells and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States. UTZ currently carries a Zacks Rank 2.
The Zacks Consensus Estimate for UTZ’s current fiscal-year sales implies growth of 3.7%, and the same for earnings implies a decline of 2.4% from the year-ago actuals. UTZ delivered a trailing four-quarter earnings surprise of 1.8%, on average.
While it tends to be a rewarding long-term strategy, dividend investing requires some trade-offs. Most notably, investors looking for steady, growing equity income will likely wind up embracing stocks with slower growth profiles than, say, a hot artificial intelligence (AI) stock.
That's certainly true of the largest consumer staples companies by market cap, a group that's home to some of the most dependable dividend payers on the market, but one that, broadly speaking, lacks exhilarating returns. Another rub with some dividend stocks is that, despite perceived safety, they deliver negative returns.
Hormel's dividend is high, but the stock may be a rebound candidate. Image source: Getty Images.
Of late, that's been the case with Hormel Foods (HRL -1.00%). Down 50.5% over the past five years, the Spam maker is delivering spam to investors' portfolios, pushing its dividend yield to nearly 5.7%, as of Oct. 2. That's a multiyear high, maybe a record. Still, this stock may also be a credible rebound candidate.
The good, the bad, and the ugly of Hormel stock Obviously, the "ugly" is that shares of the SKIPPY peanut butter maker have lost more than half their value over the past five years, including a 14.6% decline this year.
As with some other old-guard food stocks, Hormel has been punished by consumers who are prioritizing healthier options. To be fair, Hormel's product portfolio isn't bereft of healthy fare, but there are perceptions, some with merit, that canned beef stew and chili don't exactly qualify as healthy eating.
On a more positive note, shifting consumer tastes aren't altering Hormel's dividend dynamics. With a payout increase streak spanning 61 years, the Jennie-O maker is a Dividend King, or one of the companies that have raised dividends for at least 50 straight years. Relevant to investors considering this stock a long-term play that can find its groove back are points such as some market observers viewing Hormel as a value play and as a company committed to maintaining its status as a dividend royalty.
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Investors considering sinking their teeth into Hormel have other positives to consider. For example, over 40 of the company's products rank first or second in their respective categories. Second, protein consumption is still highly fashionable. In fact, some professional investors note that consumers who use weight-loss drugs consume three times as much protein as their peers who aren't taking those pharmaceuticals, suggesting that Hormel may be an underappreciated play on the GLP-1 boom.
On the protein-related front, Hormel recently paid almost $1.1 billion for Brakebush Brothers, a chicken company. Some analysts believe Hormel is getting a good deal, particularly because chicken is the fastest-growing protein segment.
The interest rate quagmire High interest rates are a headwind for the Hormel thesis, not because the company carries unmanageable debt. It doesn't. Rather, the issue is that as of Oct. 2, 10-year Treasury yields were flirting with 5.3%. Some investors see a number like that and may say to themselves, "Why would I bother with the Hormels of the world when I can get a 5%-plus yield on lower-risk U.S. government debt?"
There's merit in that perspective, but it also requires a trade-off. That is taking on too much safety while missing out on a potential Hormel rebound, which could be ushered in by the company's moves to shed underperforming businesses and renew its emphasis on its top-performing brands.
Hormel Foods poprvé za dvě dekády vykázal roční dividendy vyšší než čistý zisk: ve fiskálním roce 2025 vyplatil 633,2 mil. USD proti čistému zisku 477,8 mil. USD.
Hormel Foods has raised its dividend for 60 straight years, but something just happened on the earnings statement that has never happened before in two decades of records, and it raises a serious question about whether that streak has a…
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Hormel Foods (NYSE:HRL | HRL Price Prediction) has raised its dividend for 60 consecutive years, a record that puts it on nearly every retiree’s short list. Its own guidance now tells a harder story: Hormel expects fiscal 2026 GAAP diluted EPS of $1.06 to $1.12, below its $1.17 annualized dividend. A high yield is only as good as the company’s ability to keep paying it, and that ability is under real strain.
Quick test: a dividend becomes unsustainable when earnings and free cash flow stop covering it and the company leans on cash reserves or debt to keep the checks going out.
Hormel Foods (HRL): A 5.9% Yield Built on a Falling Share Price At $19.97, Hormel yields 5.89%. For a low-volatility staple behind SPAM, Skippy, Planters and Jennie-O, with a beta of 0.315, that looks like a sleep-at-night income stream.
Look at where the yield came from. The quarterly dividend rose from $0.245 in 2021 to $0.2925 today, and the latest raise, from $0.29, was roughly 1%. Over the same stretch the shares fell 43.11% across five years, 15% over the past year and 7.42% in the past month alone. The yield expanded mainly because the price collapsed while dividend growth slowed to a crawl. This is a classic trap setup.
A Payout Line Hormel Had Not Crossed in Two Decades Hormel is an ordinary corporate, so earnings per share and net income are the proper metrics for coverage. In fiscal 2025, Hormel paid $633.2 million in dividends against net income of $477.8 million. In annual records going back to fiscal 2006, that was the first year dividends paid exceeded net income. Net income fell 40.6% that year.
Fiscal 2026 extends the problem. GAAP EPS guidance was cut to $1.06 to $1.12 from $1.28 to $1.37, and the original range was $1.29 to $1.39. Trailing diluted EPS is just $0.62. The damage traces to a $56M loss on the Brazil sale, a $48.2M impairment on an Indonesia stake and a $37.5M antitrust settlement.
Bulls will point to adjusted EPS guidance of $1.45 to $1.51, which does cover the dividend. Fair enough, but the cushion is thin, and one-time charges that repeat two years running deserve a skeptical eye.
Cash Flow Coverage Has Been Spotty Fiscal 2025 operating cash flow dropped 33.27% to $845.3 million while capex rose 21.24% to $310.9 million. Set capex and the $633.2 million dividend bill side by side, and together they exceeded the cash the business produced. Individual quarters were worse: in the quarter ending April 2025, operating cash flow of $56.4 million trailed dividends of $159.2 million.
The latest quarter improved. Operating cash flow rose 53.54% to $240.6 million against capex of $68.2 million and dividends of $161.0 million, which management credited to better inventory and working-capital management. One strong quarter helps. It does not yet prove a trend.
Balance Sheet Is Steady, but a Bill Is Coming Due Total debt was $2.855 billion at the end of July, essentially flat with $2.857 billion at fiscal 2025 year-end. The longer view is less comforting: debt stood at $250 million in fiscal 2019. Short-term debt jumped to $505.6 million from $6.6 million, signaling a maturity approaching, against cash of $839.6 million. Management called it “a sound financial position with ample liquidity and a conservative balance sheet.” That is true today, but refinancing or paying down that note competes with the dividend for the same cash.
Why a 60-Year Streak Cuts Both Ways On the August call, management said, “We remain committed to the dividend and are proud to have reached our 392nd consecutive quarterly payout.” CEO-elect John Ghingo added that “the dividend continues to be very important to us.”
That institutional pressure is real, and it brings down the odds of an outright near-term cut. It also explains the pattern: token raises, payouts held while earnings slide. A payout kept intact amid clear strain signals trouble rather than safety. The stress is visible: third-quarter revenue of $2.96B fell 2.4% and missed expectations, net income dropped 67.58%, and Ghingo said “the consumer environment right now really is not improving.” Leadership is also in transition, with an interim CEO and interim CFO on that call.
What Has to Go Right, and the One Number to Watch The path to safety exists. Foodservice posted its 12th consecutive quarter of organic sales growth, adjusted operating margin expanded to 9.0% from 8.4%, and management expects lower pork costs to flow through in future quarters, with a 53rd week in fiscal 2027 adding a boost. At 13x forward earnings, the market is partly pricing that recovery in. If the charges stop and cash flow holds at third-quarter levels, coverage repairs itself.
The verifiable test: when Hormel issues fiscal 2027 guidance, check whether the GAAP EPS range tops $1.17. If it does, the streak has breathing room. If it does not, Hormel faces a third straight year of paying more than it earns on a GAAP basis, and the risk rises sharply.
Dividend cuts rarely arrive alone; the stock usually falls with them. Hormel’s yield is fat because the stock has drop, and a 60-year streak can make a board stubborn right up to the point it cannot. The thesis rests on coverage.
Contact [email protected] for any questions or corrections.
Hormel Foods oznámila definitivní dohodu o akvizici Brakebush Brothers, LLC. Firma dnes svolala konferenční hovor k transakci a svému finančnímu výhledu.
Hormel Foods Corporation (HRL) M&A Call September 30, 2026 8:00 AM EDT
Company Participants
Jess Blomberg - Director of Investor Relations
Jeffrey Ettinger - Interim CEO & Director
John Ghingo - President & Director
Ash Bhumbla - Executive VP & CFO
Conference Call Participants
Rupesh Parikh - Oppenheimer & Co. Inc., Research Division
Heather Jones - Heather Jones Research LLC
Peter Galbo - BofA Securities, Research Division
Thomas Palmer - JPMorgan Chase & Co, Research Division
Benjamin Theurer - Barclays Bank PLC, Research Division
Pooran Sharma - Stephens Inc., Research Division
Presentation
Operator
Good morning, and welcome, everyone, to the Hormel Foods conference call, where they will discuss their announced definitive agreement to acquire Brakebush Brothers, LLC. My name is Joel, and I will be your conference operator today.
[Operator Instructions]
I will now pass the call to Jess Blomberg, Director of Investor Relations. Jess, you may now begin your conference.
Jess Blomberg
Director of Investor Relations
Good morning. Welcome to the Hormel Foods conference call regarding today's announcement of our agreement to acquire Brakebush Brothers, LLC. Earlier this morning, we issued a press release announcing the transaction. If you did not receive a copy of the release, you can find it on our website, hormelfoods.com, under the Investors section, along with supplemental slide materials.
Joining me on today's call are Jeff Ettinger, Interim Chief Executive Officer; John Ghingo, President and Chief Executive Officer-elect; and Ash Bhumbla, Chief Financial Officer. Jeff, John and Ash will discuss the strategic rationale for the acquisition, provide an overview of the transaction and review our financial expectations. We will conclude with the Q&A portion of the call, and the line will be open for questions following the prepared remarks.
Before we get started today, I'd like to reference our safe harbor statement. Some of the comments we make today will be forward-looking, and
Hormel Foods se dohodla na koupi společnosti Brakebush Brothers za zhruba 1,055 miliardy USD. Akvizice má posílit její pozici ve value-added chicken a foodservice.
Acquisition Will Strengthen Hormel Foods' Position in a Growing Protein Category and Enhance its Leading Foodservice Capabilities
, /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced it has entered into a definitive agreement to acquire Brakebush Brothers, LLC, a leading value-added chicken company, from the Brakebush family.
The purchase price is approximately $1.055 billion, and the transaction is expected to close during the first quarter of Hormel Foods' fiscal 2027, subject to customary closing conditions, including regulatory approval.
The acquisition advances Hormel Foods' strategy of investing in growing protein categories, will meaningfully expand the company's position in value-added chicken and is expected to strengthen its leading Foodservice platform through enhanced operator relationships, category expertise and an expanded direct sales organization.
"Brakebush is a highly respected leader in value-added chicken and has earned the trust of customers for more than 100 years through innovation, quality and exceptional relationships," said Jeff Ettinger, interim chief executive officer. "The company's talented team, strong culture and differentiated capabilities make it an excellent fit for Hormel Foods. Our industry-leading Foodservice business has been a source of growth, and we are excited to meaningfully expand our presence in value-added chicken."
"Chicken has been one of the most attractive growth categories in protein, and Brakebush has built an exceptional platform to serve that demand," said John Ghingo, president and chief executive officer-elect. "Hormel Foods has built a strong Foodservice business by helping operators succeed through innovation, service and value-added solutions. We believe that Brakebush will bolster our capabilities, bringing additional scale, expertise and customer reach, in support of our long-term growth strategy."
"Brakebush has always been a people-first company, built on strong relationships, shared values and a commitment to doing business the right way," said Carey Brakebush, chairman of the board, Brakebush. "We see those same qualities in Hormel Foods. Their culture, integrity and long-term approach to growth give us great confidence that Brakebush will continue to thrive for our employees, customers and communities in the years ahead."
Founded in 1925 and headquartered in Westfield, Wisconsin, Brakebush has established itself as a leading, value-added, non-vertically integrated chicken provider, serving a diverse foodservice customer base across national and regional operators. Brakebush generated approximately $1.2 billion in net sales over the last 12 months and operates five production facilities and two research and development labs.
Hormel Foods expects the acquisition to generate growth, unlock operational synergies, and enhance cash flows. The company expects the acquisition to be accretive to adjusted earnings per share beginning in fiscal 2028. The company expects to report the results of Brakebush's operations primarily in its Foodservice segment.
ADVANCING HORMEL FOODS' GROWTH STRATEGY
Hormel Foods expects the acquisition to provide the following strategic benefits:
Strengthens Hormel Foods' Position in a Growing Protein Category: The addition of Brakebush will significantly expand Hormel Foods' presence in value-added chicken, positioning the company to participate more meaningfully in one of the most attractive segments of protein. Creates a Broader Platform for Foodservice Segment Growth: Brakebush's established direct sales organization, deep relationships and category expertise are expected to enhance Hormel Foods' existing Foodservice capabilities and customer reach. Together, the businesses are expected to be better positioned to serve national and regional operators with high-quality, value-added protein solutions. Adds a Reputable, Scaled Asset: Opportunities to acquire a leading value-added chicken business with Brakebush's scale, reputation and customer loyalty are uncommon. Hormel Foods believes the company brings a solid asset base, strong innovation capabilities and deep customer relationships built over more than 100 years. Aligns with Hormel Foods' Long-Term Growth Strategy: The acquisition reflects Hormel Foods' disciplined approach to portfolio management and capital allocation, and reinforces its focus on categories, channels and capabilities with long-term growth potential. Wells Fargo is acting as exclusive financial advisor to Hormel Foods and Faegre Drinker Biddle & Reath is serving as legal counsel. William Blair is acting as exclusive financial advisor and Michael Best & Friedrich LLP is serving as legal counsel for Brakebush.
CONFERENCE CALL
A conference call will be webcast at 7 a.m. CT on Sep. 30, 2026. Access is available at hormelfoods.com by clicking on "Investors." The call will also be available via telephone by dialing 833-461-5787 (toll free) or 585-542-9983 (international) and providing the conference ID 284 105 358. A webcast replay will be available at investor.hormelfoods.com following the call and will remain on the website for one year.
ABOUT HORMEL FOODS
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include Planters®, Skippy®, SPAM®, Hormel® Natural Choice®, Applegate®, Wholly®, Hormel® Black Label®, Columbus®, Jennie-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.
ABOUT BRAKEBUSH BROTHERS, LLC
Family-owned and operated since 1925, Brakebush Brothers, LLC, offers a wide variety of further processed chicken for foodservice establishments nationwide. The company is headquartered in Westfield, WI with additional facilities in Mocksville, NC; Irving, TX; Wells, MN; and Hartwell, GA. Visit www.brakebush.com for more information.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which are based on the current assumptions and expectations of Hormel Foods Corporation (the "Company"). These statements are typically accompanied by the words "aim," "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "project," "seek," "target," "will," "would," or similar words or expressions. The principal forward-looking statements in this news release include statements regarding the pending acquisition of Brakebush and the anticipated benefits of, and the Company's plans, strategies, and objectives relating to, such acquisition.
All such forward-looking statements are intended to enjoy the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended. Although the Company believes there is a reasonable basis for the forward-looking statements, actual events or results could be materially different. The most important factors that could cause actual future results or events to differ from its forward-looking statements include, but are not limited to, risks relating to completing the acquisition in the anticipated timeframe, or at all; risks related to the ability to realize the anticipated benefits of the acquisition; the possibility that unforeseen liabilities, future capital expenditures, revenues, expenses, charges, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, and strategies resulting from the acquisition or otherwise could adversely impact the value or expected benefit of the acquisition; the expected financial and operating performance and future opportunities following the acquisition; risks relating to the receipt of regulatory approvals without unexpected delays or conditions and possibility of regulatory action; the risks and costs of the pursuit and/or implementation of the acquisition; risks related to the Company's access to available financing to consummate the acquisition upon acceptable terms and on a timely basis or at all; the effect of the announcement or pendency of the acquisition on the Company's or Brakebush's business relationships, competition, business, financial condition, and operating results, including risks that the acquisition disrupts current plans and operations of the Company or Brakebush, the ability of the Company or Brakebush to retain and hire key personnel, and risks related to diverting either management team's attention from ongoing business operations; the ability of the Company to successfully integrate Brakebush's operations and implement its plans, forecasts, and other expectations with respect to Brakebush's business or the combined business after the closing of the acquisition; the ability of the Company to manage any additional debt and successfully de-lever following the acquisition; the outcome of any legal proceedings that may be instituted against the Company or Brakebush related to the acquisition; and the other risks and uncertainties described in Item 1A – Risk Factors of the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which can be accessed at hormelfoods.com in the "Investors" section. Though the Company has attempted to list comprehensively these important cautionary risk factors, the Company cautions that other factors may in the future prove to be important in affecting the Company's business or results of operations. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update any forward-looking statement except as otherwise required by law.
Hormel Foods po dvou kolech zdražení snížil ve fiskálním třetím čtvrtletí dolarovou spotřebu o 1 %. Upravená provozní marže stoupla na 9 % a upravený EPS vzrostl o 6 % na 37 centů.
Key Takeaways HRL's two pricing rounds contributed to a 1% decline in total dollar consumption in the fiscal third quarter.HRL's adjusted operating margin rose 60 basis points to 9%, while adjusted EPS increased 6% to 37 cents.HRL is adapting products, messaging, pack formats and pricing as consumers place greater emphasis on value. Hormel Foods Corp. (HRL - Free Report) is using pricing as one of several levers to improve profitability while adapting its portfolio to consumers who are becoming increasingly deliberate about value. Management has executed two rounds of Retail pricing, which contributed to the expected elasticity-related contraction in volume. Total Hormel dollar consumption declined 1% during the fiscal third quarter. At the same time, priority businesses such as Jennie-O ground turkey and Hormel entrées delivered mid- to high-single-digit consumption growth.
The company is pursuing several initiatives to improve bottom-line performance alongside continued momentum in parts of the business. Pricing remains an important lever, with management highlighting the successful execution of two pricing rounds. The team is also focused on improving mix, generating efficiency gains and taking significant SG&A actions. Together, these initiatives represent a broader approach to improving profitability through pricing, mix, efficiency and cost discipline. In the fiscal third quarter, adjusted operating margin reached 9%, up 60 basis points year over year, while adjusted earnings per share rose 6% to 37 cents.
However, Hormel Foods recognizes that consumers are becoming increasingly deliberate in their purchasing choices, with greater emphasis on value. In response, the company is adapting its portfolio to changing consumer behavior. This involves adjusting its product offerings, messaging, retail positioning, pack formats and pricing to better reflect evolving consumer needs. These efforts are intended to keep the portfolio aligned with consumers' growing focus on value.
Overall, Hormel Foods is pursuing a broader profitability strategy that combines pricing with mix improvements, efficiency gains and SG&A actions. At the same time, cost discipline and portfolio changes remain central to the company's efforts to improve profitability and support long-term growth.
The Zacks Rundown for HRLThe company’s shares have lost 24.1% in the past three months compared with the industry’s 17.8% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, HRL trades at a forward price-to-earnings ratio of 12.99, slightly higher than the industry’s average of 12.76. HRL currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for HRL’s current and next fiscal year earnings implies a year-over-year increase of 8.8% and 3.6%, respectively.
Image Source: Zacks Investment Research
Stocks to ConsiderSome better-ranked stocks have been discussed below:
The Chef’s Warehouse, Inc. (CHEF - Free Report) distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. CHEF currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for CHEF’s current fiscal-year sales and earnings indicates growth of 10.6% and 33.7%, respectively, from the year-ago reported figures. CHEF delivered a trailing four-quarter earnings surprise of 30.4%, on average.
Medifast, Inc. (MED - Free Report) operates as a health and wellness company that provides habit-based and coach-guided lifestyle solutions to address obesity and support a healthy life in the United States. MED currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for MED's current fiscal-year sales and earnings implies a decline of 27.3% and 26.8%, respectively, from the year-ago actuals. MED delivered a trailing four-quarter negative earnings surprise of 462.2%, on average.
Utz Brands, Inc. (UTZ - Free Report) , together with its subsidiaries, markets, sells and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States. UTZ currently carries a Zacks Rank 2.
The Zacks Consensus Estimate for UTZ’s current fiscal-year sales implies growth of 3.7%, and the same for earnings implies a decline of 2.4% from the year-ago actuals. UTZ delivered a trailing four-quarter earnings surprise of 1.8%, on average.
, /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced its quarterly dividend on the common stock, authorized by the Board of Directors at $0.2925 per share. The dividend will be paid on November 16, 2026, to stockholders of record at the close of business on October 13, 2026.
This marks the 393rd consecutive quarterly dividend paid by the company. Since becoming a public company in 1928, Hormel Foods Corporation has paid a regular quarterly dividend without interruption.
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include Planters®, Skippy®, SPAM®, Hormel® Natural Choice®, Applegate®, Wholly®, Hormel® Black Label®, Columbus®, Jennie-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.
Hormel Foods uvedla, že její proteinové značky, včetně Jennie-O a Applegate, rostou díky silné poptávce po bílkovinách. Foodservice navíc zaznamenal 12. po sobě jdoucí čtvrtletí růstu organických tržeb.
Key Takeaways HRL's Jennie-O ground turkey and Applegate brands posted sales growth on demand for protein-rich products.HRL saw mid to high-single-digit consumption growth in Jennie-O ground turkey and Hormel entrees.Foodservice delivered 12th straight quarter of organic sales growth, led by premium proteins and pepperoni. Hormel Foods Corp. (HRL - Free Report) highlighted that its protein-centric portfolio is well positioned to address evolving consumer needs across breakfast, lunch, dinner, snacking and convenience, while offering value and affordability. As consumers become increasingly deliberate and value-focused in their choices, the company is focused on evolving its portfolio to ensure it has the right offerings, messaging, point of purchase, pack and price. This effort reflects the company’s focus on evolving its portfolio in response to changing consumer preferences and value considerations.
Hormel Foods’ protein-centric portfolio continued to show marketplace momentum across several priority Retail brands. Jennie-O ground turkey and Applegate both posted sales growth, supported by continued demand for protein-rich products. Jennie-O ground turkey and Hormel entrées also recorded mid- to high-single-digit consumption growth. Consumption also grew across Applegate, the center-store canned portfolio, HERDEZ, Hormel Black Label Bacon and Planters, with management noting strong consumption momentum across several priority Retail businesses.
Foodservice delivered its 12th consecutive quarter of organic net sales growth, continuing to outperform an industry facing softer traffic trends and ongoing macro pressure. Growth remained broad-based across channels, customers and product platforms, reflecting the breadth of the portfolio and strength of its category positions. Premium prepared proteins and branded pepperoni were particularly strong contributors, supported by operator demand for differentiated, value-added solutions.
Overall, Hormel Foods’ protein-focused portfolio is being positioned around affordability, convenience and versatility across a broad range of consumption occasions. Momentum across several priority Retail brands, together with continued Foodservice growth, highlights the breadth of the portfolio as the company responds to evolving consumer preferences.
The Zacks Rundown for HRLThe company’s shares have lost 13.9% in the past three months compared with the industry’s 18.3% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, HRL trades at a forward price-to-earnings ratio of 12.92, higher than the industry’s average of 12.83. HRL currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for HRL’s current and next fiscal year earnings implies a year-over-year increase of 8.8% and 3.6%, respectively.
Image Source: Zacks Investment Research
Stocks to ConsiderSome better-ranked stocks have been discussed below:
The Chef’s Warehouse, Inc. (CHEF - Free Report) distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. CHEF currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CHEF’s current fiscal-year sales and earnings indicates growth of 10.6% and 33.7%, respectively, from the year-ago reported figures. CHEF delivered a trailing four-quarter earnings surprise of 30.4%, on average.
Medifast, Inc. (MED - Free Report) operates as a health and wellness company that provides habit-based and coach-guided lifestyle solutions to address obesity and support a healthy life in the United States. MED currently carries a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for MED's current fiscal-year sales and earnings implies a decline of 27.3% and 26.8%, respectively, from the year-ago actuals. MED delivered a trailing four-quarter negative earnings surprise of 462.2%, on average.
Utz Brands, Inc. (UTZ - Free Report) , together with its subsidiaries, markets, sells and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States. UTZ currently carries a Zacks Rank 2.
The Zacks Consensus Estimate for UTZ’s current fiscal-year sales implies growth of 3.7%, and the same for earnings implies a decline of 2.4% from the year-ago actuals. UTZ delivered a trailing four-quarter earnings surprise of 1.8%, on average.
Hormel potvrdil 60. po sobě jdoucí zvýšení dividendy, ale poslední navýšení bylo jen o 1 % na roční sazbu 1,17 USD na akcii. Peněžní tok dividendu stále kryje.
Sixty years of uninterrupted dividend raises sounds like a triumph, but a closer look at Hormel's latest increase reveals a streak that is surviving on thinner and thinner margins with each passing year.
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An income streak this long earns automatic respect. Hormel Foods (NYSE:HRL | HRL Price Prediction) confirmed with its fiscal 2025 fourth quarter release that it has now delivered 60 consecutive years of uninterrupted dividend increases, cementing its place among the market’s Dividend Kings. The headline is impressive. What sits under it is more nuanced: the most recent raise was a 1% bump that lifted the annualized rate to $1.17 per share, and the payout is barely keeping pace with a broad inflation backdrop that pushed the CPI to 334.980 in August 2026 from 323.976 a year earlier.
Streak Confirmed, Raise Cadence Slowing The verified dividend record backs the streak claim. Hormel paid $0.29 per quarter through all of 2025 before stepping up to $0.2925 with the January 12, 2026 ex-dividend date. Compare that with earlier steps in the same series: $0.26 rising to $0.275 in early 2023, and $0.275 to $0.2825 in early 2024. Each of those was a larger bump than the current one. The streak is intact. Its slope has flattened.
Interim CEO Jeff Ettinger framed the milestone directly: “This marks an impressive milestone, 60 years of uninterrupted dividend increases at Hormel Foods, a legacy we’re extremely proud of.”
What the Payout Is Actually Doing For a retirement holder, a 1% raise against ongoing grocery and services inflation means real income is drifting lower even as the streak survives. The yield cushions that: shares closed at $20.83 on September 18, 2026, down 12.19% over one year and 41.22% over five years, pushing the trailing yield to roughly 5.62%.
Is the Payout Funded? Cash generation still covers the check. Hormel returned $161 million to stockholders in dividends in the second quarter of fiscal 2026, its 391st consecutive quarterly payout, and finished the quarter with $827 million in cash. Third quarter operating cash flow reached $240.6 million, up 53.5% year over year, with adjusted operating margin expanding to 9.0% from 8.4%. Management raised fiscal 2026 adjusted EPS guidance to $1.45 to $1.51, comfortably above the $1.17 annualized payout.
Peers on the Same Trade Hormel’s slow-raise pattern echoes broader packaged food trends. McCormick & Company (NYSE:MKC), another Dividend King, has leaned on smaller annual bumps in recent years, while Kraft Heinz (NASDAQ:KHC) sits on the other side of the trade with a portfolio restructuring and a payout that was rebased years ago rather than grown steadily. Hormel is threading between them: streak preserved, growth deferred. (We ranked ten Dividend Kings by valuation right now in a free report you can grab here.)
Verdict The 60-year record is real, and coverage is not in doubt. A buyer today is purchasing stability and yield, backed by a 0.315 beta and disciplined cash generation, rather than the mid-single-digit dividend growth Hormel delivered earlier in the decade. The streak still means something. It just means something different now.
Contact [email protected] for any questions or corrections.
Hormel Foods zveřejní výsledky za 3. čtvrtletí před otevřením trhu; analytici čekají zisk 35 centů na akcii a tržby 3,04 miliardy USD. Společnost zároveň jmenovala Ash Bhumbla finančním ředitelem.
Hormel Foods Corporation (NYSE:HRL) will release its third quarter earnings report before the opening bell on Thursday, Aug. 27.
Analysts expect the Austin, Minnesota-based company to report quarterly earnings of 35 cents per share, versus 35 cents per share in the year-ago period. The consensus estimate for HRL’s quarterly revenue is $3.04 billion. It reported $3.03 billion last year, according to Benzinga Pro.
On Aug. 24, Hormel Foods announced the appointment of Ash Bhumbla as chief financial officer.
Shares of Hormel Foods fell 0.3% to close at $23.71 on Wednesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
JP Morgan analyst Thomas Palmer maintained a Neutral rating and increased the price target from $25 to $26 on Aug. 14, 2026. This analyst has an accuracy rate of 51%. Stephens & Co. analyst Pooran Sharma maintained an Equal-Weight rating with a price target of $25 on July 9, 2026. This analyst has an accuracy rate of 75%. B of A Securities analyst Peter Galbo maintained a Neutral rating and raised the price target from $25 to $27 on June 30, 2026. This analyst has an accuracy rate of 54%. Barclays analyst Benjamin Theurer maintained an Overweight rating and cut the price target from $31 to $30 on Dec. 9, 2025. This analyst has an accuracy rate of 57%. Piper Sandler analyst Michael Lavery maintained a Neutral rating and raised the price target from $25 to $26 on Dec. 5, 2025. This analyst has an accuracy rate of 63%. Trending
Considering buying HRL stock? Here’s what analysts think:
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Hormel Foods vykázala ve 3. čtvrtletí tržby 2,96 miliardy USD, ale zisk na akcii (EPS) 0,11 USD zaostal za odhadem 0,35 USD. Firma zároveň zvýšila a zúžila výhled upraveného zisku pro fiskální rok 2026.
Hormel Foods Corp HRL released its 8-K filing detailing its third quarter fiscal 2026 results on August 27, 2026. The results demonstrate a company navigating a mixed environment of financial growth yet facing challenges that could impact long-term success.
Founded in Austin, Minnesota, Hormel Foods Corp has evolved from a meat-focused enterprise to a diversified global branded food company with annual revenues exceeding $12 billion. It operates through various channels such as U.S. retail (61.6% of fiscal 2025 sales), U.S. foodservice (32.6%), and international markets (5.9%). The company's diverse product portfolio includes renowned brands like Hormel, Spam, Jennie-O, Columbus, Applegate, Planters, and Skippy, many of which hold leading market shares in their categories.
Performance Overview and ChallengesHormel Foods Corp reported third quarter net sales of $2.96 billion, marking a 2% organic net sales decline compared to the same period last year. Despite this, the operating income stood at $111 million, with an adjusted operating income of $266 million. The diluted earnings per share (EPS) during the quarter was $0.11, which fell below the expected $0.35 from analysts. However, the adjusted diluted EPS was reported at $0.37, surpassing expectations.
This performance is crucial, as sustained revenue growth is essential for maintaining competitive positioning in the consumer packaged goods industry. The noted decline in organic sales highlights ongoing consumer pressure and portfolio adjustments that could lead to potential risks if not addressed effectively. Jeff Ettinger, interim CEO, stated, "With our strong year-to-date performance and continued opportunities ahead, we are raising and narrowing our adjusted earnings outlook for fiscal 2026."
Financial Achievements and Key MetricsKey financial metrics for Hormel Foods Corp reveal a mixed yet promising outlook. The company's operating margin dropped to 3.7%, while the adjusted operating margin improved to 9.0%. A robust cash flow from operations of $241 million, a 54% increase year-over-year, showcases the company's financial strength. Notably, Hormel's commitment to returning value to shareholders is reflected in its dividend payout of $161 million during the quarter.
Below is a summary of key figures from the income statement and balance sheet:
MetricQ3 FY2026Q3 FY2025Net Sales$2.96 billion$3.03 billionOperating Income$111 million$239.7 millionAdjusted Operating Income$266 million$282.2 millionNet Earnings$59.5 million$183.7 millionCash Flow from Operations$241 million$156 millionCash on Hand$840 million$671 million
GuruFocus Valuation CheckHormel Foods Corp currently holds a GF Score of 69/100, suggesting it is above average in terms of fundamentals. The GF Value is set at $31.21, while the current market price stands at $23.71, indicating that the stock is undervalued by 24.0%. With a Financial Strength rating of 7/10 and a Profitability Rank of 8/10, Hormel appears to maintain a sound financial foundation. However, a Growth Rank of 3/10 and a Predictability rating of 1 star highlight areas of concern for potential investors.
Insider activity shows $0.8 million in sales over the past year, which could be perceived as cautious behavior, given that no noteworthy purchases have been made. This suggests potential wariness regarding future performance. Overall, the stock may be considered undervalued at the current price point, but investors should weigh this against the noted challenges in organic sales growth.
For a deeper dive, visit the Hormel Foods Corp stock page on GuruFocus.
Explore the complete 8-K earnings release (here) from Hormel Foods Corp for further details.
GuruFocus context: GuruFocus’ GF Value™ estimates fair value near $31.21 (24.0% undervalued); its GF Score™ is 69/100; 6 gurus currently hold the stock, with 3 adding and 5 trimming positions in recent quarters — guru 13F data Simply Wall St and Morningstar don’t have. See the full Hormel Foods Corp HRL research.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Hormel Foods snížila celoroční výhled tržeb na 12,1 až 12,2 miliardy USD kvůli slabé poptávce v maloobchodě a po snackových ořeších privátních značek. Čtvrtletní tržby klesly o 2,4 % na 2,96 miliardy USD.
Hormel Foods (HRL.N) cut its annual sales forecast on Thursday, weighed down by declines in the retail segment and weak demand for private-label snack nuts amid a pressured consumer environment.
Consumer demand across the packaged-food industry has remained subdued, with broader inflationary pressure and higher living costs squeezing consumer wallets.
Shares of the Minnesota-based firm were down 1% in premarket trading.
"The results reflected the impacts of portfolio-shaping actions, lower commodity-based pricing in portions of the business and a consumer environment that remains under pressure," CEO-elect John Ghingo said.
Earlier this week, Hormel appointed former Tyson Foods (TSN.N) executive Ash Bhumbla as CFO, effective in September, following the appointment of company veteran Ghingo as chief executive officer last month.
Its retail segment, Hormel's biggest revenue generator, reported a 4% decline in sales, while volumes fell 9%.
The maker of Skippy peanut butter forecast fiscal 2026 net sales of $12.1 billion to $12.2 billion, compared with its prior forecast of $12.2 billion to $12.5 billion, and narrowed its range for organic sales growth expectation to 1% to 2%, from 1% to 4% previously.
The company's third-quarter revenue fell 2.4% to $2.96 billion, missing analysts' estimate of $3.04 billion, hurt by weaker demand in its retail and international businesses.
During the quarter, Hormel completed the divestiture of its Brazilian business under the CERATTI brand as part of efforts to streamline its portfolio and focus on higher-growth markets.
Hormel raised its full-year adjusted earnings per share forecast to between $1.45 and $1.51, from $1.43 to $1.51.
The company's quarterly adjusted net income per share was 37 cents, compared with expectations of 35 cents, according to data compiled by LSEG.
Analytici u Hormel Foods drží konsenzus „Hold“ a průměrná 1letá cílová cena je 26,1429 USD. Firma zároveň ve 3. čtvrtletí překonala odhad EPS o 0,37 USD, ale tržby klesly o 2,4 % na 2,96 miliardy USD.
Hormel Foods Corporation (NYSE:HRL – Get Free Report) has earned a consensus recommendation of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $26.1429.
Several equities research analysts have issued reports on HRL shares. Stephens set a $23.00 price objective on shares of Hormel Foods in a research report on Friday. Bank of America upped their target price on Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research note on Thursday, May 21st. Weiss Ratings raised Hormel Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, BNP Paribas Exane reduced their price target on Hormel Foods from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday.
View Our Latest Stock Report on HRL
Hormel Foods News Roundup Here are the key news stories impacting Hormel Foods this week: Positive Sentiment: Hormel reported adjusted third-quarter EPS of $0.37, ahead of analyst estimates of approximately $0.35–$0.36 and up from $0.35 a year earlier. Margin expansion and cost management helped offset weaker volumes. Hormel Foods Q3 Earnings Beat on Margin Expansion, Sales Miss Positive Sentiment: Management raised and narrowed its fiscal 2026 adjusted EPS outlook to $1.45–$1.51, compared with prior guidance of $1.40–$1.50. Operating cash flow also increased 54% to $240.6 million. Hormel Foods Reports Third Quarter Fiscal 2026 Results Neutral Sentiment: BNP Paribas Exane lowered its HRL price target from $27 to $26 and assigned a neutral rating. The revised target still implies meaningful potential upside from recent levels, but the rating signals limited confidence in near-term growth. BNP Paribas Exane Hormel Foods Price Target Update Neutral Sentiment: Some analysts view Hormel’s elevated dividend yield—reported at roughly 5.5% after the sell-off—and valuation as attractive for long-term income investors, though earnings-based valuation remains a concern. Hormel Foods: A Protein Powerhouse With a Secure Yield Negative Sentiment: Third-quarter revenue fell 2.4% year over year to $2.96 billion, missing the roughly $3.03 billion consensus estimate. Retail sales declined 4%, international sales dropped 5%, and management cited pressured consumers, lower commodity prices and weak private-label snack-nut demand. Hormel Foods Cuts Annual Sales Forecast Negative Sentiment: Hormel reduced fiscal 2026 revenue guidance to $12.1–$12.2 billion from $12.2–$12.5 billion, reinforcing concerns that sluggish demand and falling sales will limit growth despite improved margins and EPS. Why Hormel Foods Stock Swooned Hormel Foods Stock Down 0.2% NYSE:HRL opened at $21.53 on Friday. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 2.49 and a beta of 0.34. Hormel Foods has a twelve month low of $19.70 and a twelve month high of $26.60. The stock’s 50 day moving average price is $24.76 and its two-hundred day moving average price is $23.37. The company has a quick ratio of 0.92, a current ratio of 1.88 and a debt-to-equity ratio of 0.30.
Hormel Foods (NYSE:HRL – Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.03 billion. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. Hormel Foods’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. Equities research analysts expect that Hormel Foods will post 1.49 earnings per share for the current fiscal year.
Insider Transactions at Hormel Foods In related news, Director Gary C. Bhojwani sold 20,200 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total value of $495,102.00. Following the transaction, the director owned 32,002 shares in the company, valued at approximately $784,369.02. This trade represents a 38.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows Institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP lifted its stake in Hormel Foods by 7.8% in the 2nd quarter. Corient Private Wealth LP now owns 58,967 shares of the company’s stock valued at $1,464,000 after purchasing an additional 4,257 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Hormel Foods by 8.0% during the 2nd quarter. HighTower Advisors LLC now owns 132,688 shares of the company’s stock valued at $3,293,000 after acquiring an additional 9,851 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Hormel Foods during the 2nd quarter valued at $482,000. California State Teachers Retirement System grew its position in Hormel Foods by 2,186.0% during the 2nd quarter. California State Teachers Retirement System now owns 8,259,202 shares of the company’s stock worth $204,993,000 after acquiring an additional 7,897,912 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in Hormel Foods by 32.0% during the 2nd quarter. HB Wealth Management LLC now owns 20,646 shares of the company’s stock worth $512,000 after acquiring an additional 5,011 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.
About Hormel Foods (Get Free Report)
Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.
Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.
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, /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, invites interested parties to participate in a webcast and conference call with Jeff Ettinger, interim chief executive officer; John Ghingo, president; and Paul Kuehneman, interim chief financial officer and controller, to discuss the Company's third quarter financial results. The Company will issue its earnings release before the markets open on Thursday, Aug. 27, 2026, and will host a conference call at 8 a.m. CT (9 a.m. ET).
The live webcast, replay, and other information related to the fiscal 2026 third quarter earnings conference call will be available on the Hormel Foods investor website, investor.hormelfoods.com.
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include Planters®, Skippy®, SPAM®, Hormel® Natural Choice®, Applegate®, Wholly®, Hormel® Black Label®, Columbus®, Jennie-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.
Hormel Foods dokončila prodej brazilských aktivit pod značkou CERATTI společnosti Zanchetta Alimentos LTDA. Firma očekává ve fiskálním roce 2026 jen minimální dopad na upravené výsledky.
, /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced the successful completion of the sale of its Brazilian operations, operated under the CERATTI® brand, to Zanchetta Alimentos LTDA, a Brazilian food company with an established presence in the market.
The transaction follows the definitive agreement announced on June 29, 2026, and reflects Hormel Foods' ongoing efforts to simplify and streamline its portfolio while focusing its international strategy on markets with the strongest long-term growth opportunities.
Financial terms of the transaction were not disclosed. As previously communicated, Hormel Foods expects the sale to have a minimal impact on its adjusted fiscal 2026 financial results. Additional information will be shared during the company's third-quarter fiscal 2026 earnings call.
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include PLANTERS®, SKIPPY®, SPAM®, HORMEL® NATURAL CHOICE®, APPLEGATE®, WHOLLY®, HORMEL® BLACK LABEL®, COLUMBUS®, JENNIE-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which are based on the current assumptions and expectations of Hormel Foods Corporation ("Hormel"). These statements are typically accompanied by the words "expect," "will," "would," or similar words or expressions. The principal forward-looking statements in this news release include statements regarding Hormel's sale of its Ceratti business in Brazil, international growth opportunities, and the expected impact of the transaction on Hormel's fiscal 2026 financial results.
All such forward-looking statements are intended to enjoy the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended. Although Hormel believes there is a reasonable basis for the forward-looking statements, its actual results could be materially different. The most important factors which could cause Hormel's actual results to differ from its forward-looking statements include, but are not limited to, risks related to the deterioration of economic conditions; risks related to acquisitions, joint ventures, equity investments, and divestitures; risks and uncertainties associated with intangible assets, including any future goodwill or intangible assets impairment charges; the risk of disruption of operations; the risk that Hormel may fail to realize anticipated cost savings or operating profit improvements associated with strategic initiatives, including the Transform and Modernize initiative and Hormel's recent corporate restructuring plan; risk of unfavorable changes in Hormel's relationships with third parties; risk of Hormel's inability to protect information technology (IT) systems against, or effectively respond to, cyber-attacks, security breaches or other IT interruptions; labor relations and labor availability risks; food safety risks; fluctuations in commodity prices and availability of raw materials and other inputs; fluctuations in market demand for Hormel's products; risks related to Hormel's ability to respond to changing consumer preferences; damage to Hormel's reputation or brand image; risks of litigation; risks associated with government regulation; risks related to trade policies, export and import controls, and tariffs; and the other risks and uncertainties described in Item 1A – Risk Factors of Hormel's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which can be accessed at www.hormelfoods.com in the "Investors" section. Though Hormel has attempted to list comprehensively these important cautionary risk factors, Hormel cautions that other factors may in the future prove to be important in affecting Hormel's business or results of operations. Forward-looking statements speak only as of the date they are made, and Hormel does not undertake any obligation to update any forward-looking statement except as otherwise required by law.
The company logo for Hormel Foods is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 9, 2019. REUTERS/Brendan McDermid Purchase Licensing Rights, opens new tab
CompaniesJuly 28 (Reuters) - Hormel Foods (HRL.N), opens new tab on Tuesday named insider and industry veteran John Ghingo as CEO, as the Skippy peanut-butter maker looks to drive growth and modernize operations amid a challenging consumer spending environment.
Ghingo, 53, has more than 25 years of leadership experience across the consumer packaged goods industry, and would succeed interim executive Jeffrey Ettinger, who returned last year after former CEO and president James Snee retired.
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Here are some details:
Ghingo, who will take over the role from October 26, has served as Hormel's president and board member since July 2025 and previously led the company's retail business, its largest segment by sales.
As president, Ghingo also oversees the company's food service and international business segments, along with supply chain and global operations among others.
Ghingo has held leadership roles at various consumer packaged goods companies including at Applegate Farms, a subsidiary of Hormel Foods, Mondelez International and WhiteWave Foods.
Ettinger, who served as CEO of Hormel Foods from 2005 to 2016, will continue to serve on the company's board.
Hormel Foods beat second-quarter results estimates in May and said demand for food has remained resilient, mainly with growth in protein, where its portfolio is "well positioned" despite weak consumer sentiment.
Reporting by Shania S Thomas and Anuja Bharat Mistry in Bengaluru; Editing by Arun Koyyur
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Hormel Foods se dohodl na prodeji svého brazilského byznysu CERATTI společnosti Zanchetta Alimentos LTDA. Transakce má být uzavřena v příštích týdnech a očekává se jen minimální dopad na upravené zisky za fiskální rok 2026.
, /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced it has entered into a definitive agreement to sell its Brazilian operations, operated under the CERATTI® brand to Zanchetta Alimentos LTDA, a Brazilian food company with an established presence in the market.
The divestiture reflects Hormel Foods ongoing efforts to simplify and streamline its portfolio and focus its international strategy on markets with the strongest long-term growth opportunities.
The transaction is expected to close in the coming weeks, subject to customary closing conditions, including required regulatory approval. In the interim, operations will continue as usual for employees, customers and partners.
Financial details of the transaction have not been disclosed. Hormel Foods expects the sale to have a minimal impact on its adjusted fiscal 2026 financial results. The company expects to share additional information during its earnings call for the third quarter of fiscal 2026.
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include PLANTERS®, SKIPPY®, SPAM®, HORMEL® NATURAL CHOICE®, APPLEGATE®, WHOLLY®, HORMEL® BLACK LABEL®, COLUMBUS®, JENNIE-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which are based on the current assumptions and expectations of Hormel Foods Corporation ("Hormel"). These statements are typically accompanied by the words "expect," "will," "would," or similar words or expressions. The principal forward-looking statements in this news release include statements regarding Hormel's anticipated sale of its Ceratti business in Brazil, international growth opportunities, and the expected impact of the transaction on Hormel's fiscal 2026 financial results.
All such forward-looking statements are intended to enjoy the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended. Although Hormel believes there is a reasonable basis for the forward-looking statements, its actual results could be materially different. The most important factors which could cause Hormel's actual results to differ from its forward-looking statements include, but are not limited to, risks related to the deterioration of economic conditions; risks related to acquisitions, joint ventures, equity investments, and divestitures; risks and uncertainties associated with intangible assets, including any future goodwill or intangible assets impairment charges; the risk of disruption of operations; the risk that Hormel may fail to realize anticipated cost savings or operating profit improvements associated with strategic initiatives, including the Transform and Modernize initiative and Hormel's recent corporate restructuring plan; risk of unfavorable changes in Hormel's relationships with third parties; risk of Hormel's inability to protect information technology (IT) systems against, or effectively respond to, cyber-attacks, security breaches or other IT interruptions; labor relations and labor availability risks; food safety risks; fluctuations in commodity prices and availability of raw materials and other inputs; fluctuations in market demand for Hormel's products; risks related to Hormel's ability to respond to changing consumer preferences; damage to Hormel's reputation or brand image; risks of litigation; risks associated with government regulation; risks related to trade policies, export and import controls, and tariffs; and the other risks and uncertainties described in Item 1A – Risk Factors of Hormel's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which can be accessed at www.hormelfoods.com in the "Investors" section. Though Hormel has attempted to list comprehensively these important cautionary risk factors, Hormel cautions that other factors may in the future prove to be important in affecting Hormel's business or results of operations. Forward-looking statements speak only as of the date they are made, and Hormel does not undertake any obligation to update any forward-looking statement except as otherwise required by law.
Contact:
Media Relations
Hormel Foods
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